29 December 2014

Indian markets opens higher :: HDFC Securities

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Indian Markets

Benchmark share indices ended marginally higher on Friday, amid buying interest in late trades, led by IT exporters on the back of upbeat US economic data. The 30-share Sensex ended up 33 points at 27,241.78 and the 50-share Nifty ended up 27 points at 8,200.70.

In the broader market, the BSE Mid-cap index ended up 0.4% while Small-cap index ended up flat with positive bias. Market breadth was neutral with 1,423 losers & 1,412 gainers on BSE.

Among the Sectoral indices, BSE Realty index was the top sectoral gainer up 0.9% followed by IT and Metal, Capital Goods and Bankex indices. FMCG shares witnessed profit taking

As per the provisional figures on Friday, FIIs were net buyers of Rs. 40 cr in the cash market, while they were net buyers of Rs. 1014 cr in the F&O markets. DIIs were net buyers of Rs. 417 cr in the cash market.

US and European Markets

U.S. stocks rose in light volume on Friday following the Christmas holiday, with the Dow and S&P 500 closing at records. After rising 73 points to an intraday record, and extending gains into a seventh session, the Dow added 23.5 points, or 0.1%, to 18,053.7, advancing 1.4% on the week. Climbing 0.9 percent from last Friday's close, the S&P 500 gained 6.89 points, or 0.3%, to 2,088.8. The Nasdaq gained 33.39 points, or 0.7%, to 4,806.86, up 0.9% for the week.

European markets were closed on Friday.

Among the Indian ADRs, Tata Motors & Infosys ended higher by 0.6% & 0.2% respectively. However, Wipro & Dr. Reddy?s ended lower by 0.6% & 0.7% respectively, while ICICI & HDFC Bank fell by 1.7% & 1% respectively.

Latin American Markets

Among the Latin American markets, the Brazilian index ended lower by 1.5%.

Asian Markets

Among the Asian markets, Nikkei and Strait Times are trading higher by 0.2% & 0.3% respectively, while Hang Seng & Taiwan are up by 2% & 0.9% respectively. Shanghai is up by 2%. However, Kospi is down by 0.6%.

As of IST 8.25 am SGX Nifty is trading higher by 24 points.

Currencies

Continuing its descent for the third straight session, the Indian rupee declined by six paise on Friday to close at 63.57 against the Greenback following sustained month-end dollar demand from importers and capital outflows.

As we wrap up the week following the Christmas day break, EUR/USD, was trading quietly at the 1.22 line on Friday.

Commodities

Oil for Jan 2015 contract ended marginally lower by 0.1%.
Gold for Feb 2015 delivery ended higher by 1.8%.

Key Events for today

Hong Kong - Import, Export, Trade Balance
Italy - Consumer Confidence
US - Mid-west manufacturing, Dallas Fed

Outlook

Indian markets could open higher and remain volatile in a range with positive bias throughout the session. Strong support for Nifty is at 8140 level, while immediate resistance is at 8280 level. Among the sectoral indices IT, Realty & Banks look good and could outperform.

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